Secretary of State John Kerry said on Tuesday that if Congress fails to authorize President Obama’s proposed nuclear deal with Iran, the U.S. dollar will lose its status as the world’s reserve currency.
At a Thompson Reuters moderated discussion on President Obama’s negotiated nuclear deal with Iran in New York City on Tuesday, Secretary of State John Kerry claimed that if Congress rejects the agreement, the U.S. dollar will lose its current status as the world’s reserve currency.
“The United States is going to start sanctioning our allies and their banks and their businesses because we walked away from a deal? And we’re going to force them to do what we want them to do even though they agreed to the deal we came to? Are you kidding?” said Sec. Kerry in the above-embedded video provided by The Washington Free Beacon.
“Can you imagine trying to sanction [our allies] after persuading them that we’ve put in place sanctions to bring Iran to the negotiating table, and when they have not only come to the table but made a deal, we turn around and nix the deal and then tell them ‘you’re going to have to obey our rules on the sanctions anyway.’ That is a recipe, very quickly, my friends, businesspeople here, for the American dollar to cease to be the reserve currency of the world, which is already bubbling out there,” added Kerry.
Sec. Kerry said that if the U.S. were to cancel the deal after building an international coalition in its support, continuing to enforce sanctions against Iran would require sanctioning other U.S. allies.
According to Reuters, Kerry also claimed that under President Obama’s deal, the U.S. would be able to detect any attempt by Iran to develop nuclear weapons
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